Monday, December 24, 2012

Fiat CEO Defiant Amid Analysts’ Dim Predictions, Believes Upscale Products will Save Italian Plants


Politics play a big part as far as large-scale auto manufacturers are concerned. The GM and Chrysler bailout initiated by Republican President George W. Bush and implemented by his Democrat successor in the White House, Barack Obama, was a political decision rather than one based solely on cold, hard facts.

Most European governments are now faced with the same problem due to the debt crisis that has led to a plunging new car market. The French government has already financed PSA Peugeot Citroen; Italians fear that Fiat, whose Italian plants are running way below their minimum capacity, as there is no demand to satisfy, may be forced to close some of them.

Read more »

Category